Coordinated Portfolio Investment Survey - 30 June 2021
According to the statistics released today by the Monetary Authority of Macao, on 30 June 2021, investment of Macao residents (including individuals, the government and other legal entities but excluding Macao’s foreign exchange reserves) in securities issued by unrelated non-residents reached MOP1,077.6 billion at current market value, representing a rise of 5.1% from end-2020 or 11.9% from end-June 2020. Among the various instruments of portfolio investment, equity securities (including mutual funds and investment trust units), long-term debt securities and short-term debt securities were valued at MOP370.5 billion, MOP639.0 billion and MOP68.1 billion respectively. As compared with end-2020, equity securities, long-term debt securities and short-term debt securities rose by 7.0%, 2.9% and 18.1% respectively.
By geographical distribution, the Asian region continued to occupy the largest share of Macao residents’ external portfolio investment, at 55.7%. The rest was mainly placed in the North Atlantic and Caribbean (17.4%), North America (12.4%), Europe (11.6%) and Oceania (1.5%).
Investment in securities issued by Mainland Chinese entities, including those securities listed on non-Mainland exchanges, continued to assume the leading position, occupying 38.0% of local residents’ portfolio investment outside Macao. Its market value increased by 9.1% from end-2020 to MOP409.3 billion. The investment consisted of MOP132.8 billion in equity securities, MOP218.3 billion in long-term debt securities and MOP58.1 billion in short-term debt securities, taking up 35.9%, 34.2% and 85.3% of the respective total. Meanwhile, the share of investment in securities issued by Hong Kong SAR entities dropped from 13.6% to 12.1%; the corresponding market value decreased by 6.4% to MOP130.6 billion, of which equity securities and long-term debt securities amounted to MOP65.7 billion and MOP59.0 billion respectively.
Macao residents’ portfolio investment in the North Atlantic and Caribbean continued to increase. The market value of investment in this region rose by 5.5% from end-2020 to MOP187.0 billion while its share in total external securities investment increased from 17.3% to 17.4%; the market value of portfolio investment in the Cayman Islands grew by 7.5% to MOP96.9 billion.
The bulk of investment in North America was placed in the United States. The market value of Macao residents’ investment in US securities increased by 9.4% from end-2020 to MOP117.9 billion while its share in total external portfolio investment rose from 10.5% to 10.9%.
Investment in European securities rose by 0.3 percentage points to 11.6% in share and increased by 7.6% to MOP125.0 billion in market value from end-2020. Among the European countries, the portfolio investment in the United Kingdom, Luxembourg and Ireland took up larger portions, valued at MOP28.1 billion, MOP27.0 billion and MOP19.4 billion respectively.
The market value of Macao residents’ investment in countries along the “Belt and Road” (excluding China) increased by 1.8% from end-2020 to MOP80.3 billion, equivalent to 7.4% of total external portfolio investment. Meanwhile, the market value of portfolio investment in Portuguese-speaking countries was MOP588.3 million, which was placed in securities issued by entities in Portugal and Brazil.
The compilation of Coordinated Portfolio Investment Survey (CPIS), jointly conducted by the Monetary Authority of Macao (AMCM) and the Statistics and Census Service (DSEC), follows the methodology advocated by the International Monetary Fund.